Raksan Transformers Limited is an ISO 9001:2015 certified transformer manufacturing company engaged in manufacturing transformers across different voltage ratings. Its product portfolio includes distribution transformers, power transformers, transformers for solar applications, and special purpose transformers, which are used in power generation, transmission, distribution, industrial and infrastructure projects.
Established in 1995, Raksan Transformers initially provided transformer repair and servicing before starting manufacturing operations in 2005-06. It now operates two manufacturing facilities in Rai, Sonepat, Haryana.
As of March 31, 2026, its two facilities had a combined capacity of 15,00,000 KVA for distribution transformers and 1,350 MVA for power transformers, supported by in-house manufacturing and testing capabilities.
The Company manufactures transformers based on customer requirements and benefits from backward integration through its group company, SHR Powers Private Limited, which manufactures transformer tanks and bodies.
The Company serves government entities, power utilities, EPC contractors and industrial clients and is an approved vendor for over 20 entities. Its products comply with BIS standards, with several also carrying BEE energy-efficiency ratings.
As of June 30, 2026, the Company had 143 full-time employees across production and other functions.
Raksan Transformers IPO – Details
| IPO Opening Date | 10 September 2026 |
| IPO Closing Date | 15 September 2026 |
| Issue Type | Book Building IPO |
| Issue Size | Total Issue: 55,12,800 Shares Worth ₹150.50 Crore Fresh Issue: 44,12,800 Shares Worth ₹120.47 Crore Offer For Sale: 11,00,000 Shares Worth ₹30.03 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹258 – ₹273 per share |
| Market Lot | 400 Shares |
| Min Order | 400 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Bigshare Services Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Raksan Transformers IPO – Date Schedule
| IPO Open Date | 10 September 2026 |
| IPO Close Date | 15 September 2026 |
| Basis of Allotment | 16 September 2026 |
| Initiation of Refund | 17 September 2026 |
| Credit of Shares to Demat | 17 September 2026 |
| IPO Listing Date | 18 September 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 15, 2026 |
Raksan Transformers IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 800 | ₹2,18,400 |
| Retail (Max) | 2 | 800 | ₹2,18,400 |
| S-HNI (Min) | 3 | 1,200 | ₹3,27,600 |
| S-HNI (Max) | 9 | 3,600 | ₹9,82,800 |
| B-HNI (Min) | 10 | 4,000 | ₹10,92,000 |
Competitive Strength
- Strong order book.
- Experienced promoters and management team.
- Focus on quality assurance and regulatory compliance.
- Established manufacturing facilities and in-house operations.
- Track record of profitability and consistent financial performance.
- Backward integration supporting supply chain and cost efficiency
- Established relationships with government entities and power utilities.
Company Promoters
- Sanjeev Kanda
- Dievam Singh Kanda
- Renu Kanda
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹162.52 Cr | ₹152.12 Cr | ₹7.59 Cr | ₹9.81 Cr |
| 31 March 2025 | ₹324.78 Cr | ₹297.03 Cr | ₹20.38 Cr | ₹23.51 Cr |
| 31 March 2026 | ₹363.63 Cr | ₹318.44 Cr | ₹33.60 Cr | ₹20.74 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 55.32% |
| ROCE | 46.72% |
| Debt/Equity | 0.27 |
| RoNW | 43.41% |
| PAT Margin | 9.25% |
| EBITDA Margin | 12.87% |
| NAV | 14.38 |
| Price to Book Value | 18.98 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 20.39 | 16.08 |
| P/E (x) | 13.39 | 16.98 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding capital expenditure towards setting up of manufacturing facility at Liwaspur, Sub-Tehsil Rai, Distt. Sonepat, Haryana. | ₹62.14 |
| To meet working capital requirements. | ₹35.00 |
| Repayment of certain borrowing availed by the Company, in part or full. | ₹7.28 |
| General Corporate Purposes. |
✅Strengths
- Established Manufacturing Facilities with in-house production capabilities.
- Strong Order Book providing revenue visibility.
- Established Customer Relationships across utilities, government and industrial sectors.
- Quality Focus supported by ISO, BIS and BEE certifications.
- Experienced Management with strong transformer industry experience.
⚠️Risks
- Distribution Transformer Dependence contributes a major share of revenue.
- Customer Concentration increases dependence on key customers.
- Raw Material Price Volatility may affect profitability.
- Delivery Delays may result in penalties or order cancellations.
- Geographical Concentration exposes the business to regional demand risks.
Raksan Transformers IPO Promoter Holding
| Pre-Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.61% |
Raksan Transformers IPO Prospectus
Company Contact Information
| Raksan Transformers Limited Shop No. 16, Local Shopping Centre-3, Sector-8, Rohini, North Delhi, New Delhi, New Delhi, 110085 Phone: +91 8199946578 Email: cs@raksantransformers.com Website: https://www.raksantransformers.com/ |
Raksan Transformers IPO Registrar
| Bigshare Services Pvt. Ltd. Phone: 8657578989/8069219065/8069219060 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Raksan Transformers IPO Lead Manager(s)
| 1. Hem Securities Ltd. |
Raksan Transformers IPO FAQ
| What is the Raksan Transformers IPO? Raksan Transformers IPO is an SME IPO. The issue is priced at ₹258 – ₹273 per equity share. The IPO is to be listed on BSE SME. |
| When will Raksan Transformers IPO open? The IPO is to open on 10 September 2026 for QIB, NII, and Retail Investors. |
| What is Raksan Transformers IPO Investors’ Portion? The Investors portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Raksan Transformers IPO Size? Raksan Transformers IPO size is ₹150.50 Crore. |
| What are the Raksan Transformers IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 800 Shares for ₹2,18,400, while the maximum bid is 800 Shares for ₹2,18,400. |
| What is the Raksan Transformers IPO Allotment Date? Raksan Transformers IPO allotment date is 16 September 2026. |
| What is the Raksan Transformers IPO Listing Date? Raksan Transformers IPO listing date is 18 September 2026. The IPO is to be listed on the BSE SME. |
